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New report - Kuwait has 9th largest oil reserves

Business Kuwait City 07 Jul 22
New report - Kuwait has 9th largest oil reserves
Kuwait ranked ninth in the world for recoverable oil reserves, according to data issued by Rystad Energy.
Event Location
Kuwait, Kuwait
Kuwait City
Start Time
07 July 2022, 12:00 AM
End Time
31 July 2022, 12:00 AM

The Rystad Energy, a company specialized in oil research revealed Kuwait ranked ninth in the world for recoverable oil reserves. These reserves amount to 53 billion barrels, noting that the total recoverable oil around the world is now down by 9% from last year, which threatens global energy security, reports Al-Anba daily. The company reviewed the countries with the largest recoverable reserves.

The sources indicated that the total recoverable oil in OPEC countries is 682 billion barrels, compared to 891 billion barrels for oil countries outside the scope of OPEC.

Referring to the report on extractable oil resources, the largest 5 reserves are held by Saudi Arabia, with 275 billion barrels, followed by the United States with 193 billion barrels, Russia in third place with 137 billion barrels, and Canada in fourth place with 118 billion barrels, Iraq in fifth place with 105 billion barrels, then Iran and Brazil in sixth and seventh places with 84 billion barrels and 71 billion barrels, respectively, then comes the UAE in eighth place with 70 billion barrels, Kuwait in ninth place with 53 billion barrels, and Qatar in tenth place with 37 billion barrels.

Continuing the trend of previous years, the 2022 Rystad Energy Review shows a significant decline in recoverable oil resources, which could deal a major blow to global energy security. According to the analysis of its data, the company said that the total world oil that can be extracted at the present time is estimated at 1.572 billion barrels, a decrease of nearly 9% from last year and 152 billion barrels less than the total of 2021.

Kuwait oil reserves 2022

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